Mounting signs of a recovery

China reporter Lucy Gao reviews the major business news making headlines every day in both the Chinese and English language press.

China Securities Journal

■ China’s securities regulator said on Friday it is co-ordinating with the country’s central bank to further expand the Renminbi Qualified Foreign Institutional Investor scheme following a request from the authorities in Hong Kong.

■ China’s money markets will see ample liquidity until early next year, recovering from a shortfall in the third quarter of this year, a commentary says.

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Company Profile

■ China Pacific Insurance (Group), one of the country’s top insurers, announced on Sunday it had received approval from the China Securities Regulatory Commission (CSRC) to raise $HK10.4 billion ($1.3 billion) through a Hong Kong H-share private placement.

Shanghai Daily

■ China’s non-manufacturing industries rebounded in October from the slowest expansion in at least 19 months, adding to signs the world’s second-biggest economy is recovering after a seven-quarter slowdown.

■ About 60 multinational corporations have set up their Asia Pacific or Asian headquarters in Shanghai, more than in any other city in the Chinese mainland, according to data revealed Sunday.

■ Beijing and parts of Northern China have seen record amounts of precipitation on Sunday, causing blizzards that have blanketed the areas in heavy snow. Soldiers have been dispatched to send food and water to stranded motorists and to dig out vehicles buried under the snow.

China Daily

■ Taiyuan and Shuozhou, two major coalmining cities in the coal-rich Shanxi province, will shift to a greener economic development model, including development of more clean energy industries that will help manage pollution.

■ The turnover of China’s futures market hit 134.7 trillion yuan during the first 10 months of 2012 – a year-on-year increase of 18.84 per cent

■ China’s inflation will continue to ease in October on falling food prices, but rebounds might occur during the last two months of the year as the economy stabilises, experts forecasted.

People’s Daily

■ The CPC Central Committee approved proposed amendments to the CPC Constitution and a political report to be unveiled at the Party congress slated for Thursday.

■ The 17th Central Commission for Discipline Inspection (CCDI) of the Communist Party of China (CPC) concluded its two-day Eighth Plenary Session on Sunday, pledging to intensify anti-corruption efforts.